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McDonald’s Corporation (NYSE:MCD) shares are trading higher on Wednesday.
The company is set to invest £1 billion ($1.30 billion) in the U.K. and Ireland over the next four years, aiming to open new restaurants and generate over 24,000 jobs.
The new restaurants are part of McDonald’s ongoing investment to adapt to evolving customer expectations.
The rollout will feature new formats, including recently launched ‘Drive to’ locations and additional smaller formats being tested this year, ensuring each new restaurant aligns with the needs of its community.
“We’re proud of what we have delivered in the last 50 years and are committed to investing in new opportunities and supporting growth across the UK,” said Alistair Macrow, CEO, McDonald’s UK&I.
The plan to build over 200 new restaurants in the U.K. is in line with McDonald’s target of building 10,000 more restaurants globally by 2027.
McDonald’s expects net restaurant unit expansion to contribute nearly 2% to 2024 Systemwide sales growth in constant currencies.
According to Benzinga Pro, MCD stock has gained over 3% in the past year. Investors can gain exposure to the stock via Neuberger Berman Next Generation Connected Consumer ETF (NYSE:NBCC) and Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY).
Price Action: MCD shares are trading higher by 1.18% to $289.00 at last check Wednesday.
Photo by nlinnlin on Shutterstock
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